The government yesterday hit its target on reducing the deficit in public finances – two years after former Chancellor George Osborne initially promised.
In 2016 the current budget deficit was £20.7bn, and in 2017 it moved to a surplus of £3.8bn.
Writing on Twitter, Osborne said: “We got there in the end – a remarkable national effort. Thank you.”
The Treasury added: “We are making a success of reducing the deficit, which is down by more than three-quarters since 2010. But our national debt is still too high, and we must get debt falling to improve our economic resilience and reduce the burden on future generations.”
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The performance of the UK housing market in 2024 has largely exceeded many people's expectations, although challenges remain for first-time buyers due to house prices increasing and a testing rental market for many. Regional disparities, such as the North-South divide, also continue to influence housing accessibility and affordability for many buyers in pockets of the country.
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